ZachXBT: Laundered to Huione Guarantee in DMM Bitcoin Hack Has Exceeded $35 Million

Chain sleuth ZachXBT posted that as of July 2024, more than $35 million of the $305 million in losses caused by the DMM bitcoin hack has been laundered to the online marketplace Huione Guarantee, and that due to the similarities between the money laundering techniques and off-chain metrics, it is suspected that the Lazarus Group is behind the hack. Over the weekend, Tether blacklisted a wallet address associated with Huione on Tron (TNVaKWQzau7xL9bcnvLmF9KSEQkWEs4Ug8), with $29.6 million in the wallet. Within 3 days, the DMM Bitcoin hack resulted in approximately $14 million flowing into the wallet. The money laundering path of the funds transferred to Huione Guarantee after the DMM Bitcoin hack can be summarized as follows: 1) Deposit the BTC generated by the hack into the Mixer; 2) Extract the BTC from the Mixer; 3) Transfer the funds from Bitcoin to either Ether or Avalanche via THORChain, Threshold, and Avalanche bridges; 4) Exchange USD; and 5) Transfer the funds to Ether or Avalanche. Avalanche; 4) Exchange USDT and bridge to Tron via SWFT; 5) Transfer USDT to Huione.